Anglo African Oil & Gas Share Discussion Threads

[honestmarty] 13/5/2018 17:20

Complete failure????
101, work over. Check, awaiting flow results

102 work over. Check, flow rates then pump.

103, now a turnkey opportunity, access road, Fence, even a food truck all sorted. Rig about to hit the tarmac. Potentially 100's of millions in profits on success.

Just need final nod on license .

Contingency finance plan. Check.
And now, exciting new assets.

Strengthened management. Check

Perhaps you should re-frame your opinion M4M?

I understand your hostility if you bought at 20p, But a run of positive news could have you back in profit.

[money4me] 13/5/2018 17:05

the negativity could be related to their complete failure to deliver anything to enhance the company value. lets see how thry handle fund raising.

[honestmarty] 13/5/2018 12:57

Hopefully the news will start to flow this week.
I suspect they will release well data first, then licence, followed by finance and new assets.

If it all comes to pass we will hopefully overshoot to 30p before the drilling even starts.

There has been a sustained campaign of negativity and deramping against the company and the current bargain share price reflects that harm.

But I firmly believe the shorters are about to get their asses handed to them on a plate.

Buy early and often is the wisdom for the coming week.

Come on Sefton, give us the 102 natural flow rates at 7am. Make it 100 barrels and I will not say you look like a dialysis patient.

[euclid5] 11/5/2018 21:16

They have to get the funding completed, then we know where the bottom is, before it starts to get bought into & re rates, pending drilling TLP - 103 - at least they will find oil in the shallow reservoirs - 8mmbls recoverable - any upside from the deeper zones is a bonus

So far based on the last rns, we don't know how much they will raise & at what price - so lets sit & wait for the outcome of that first

_ ________________________________________________________________________

As the position of our partners to fund their share of the costs of TLP-103 remains unclear, the Company considers it prudent to procure additional funding in order that it can, if needed, cover 100 per cent of the anticipated well costs. This will remove any uncertainty over the drilling of TLP-103 and place the drilling campaign entirely within the control of the Company. The complete cost of drilling and testing TLP-103, notwithstanding a decision to use prime contractors such as Schlumberger, remains at US$7 million plus a US$1 million contingency. The Company has already incurred in excess of US$1 million of the drilling costs.

It should be noted that the terms of the existing licence over the Tilapia field allow for the Company to claw back any drilling costs incurred above its pro rata share from future cashflows. The draft new licence referenced in the announcement of 5 March 2018 also allows for this.

The Company has continued to manage its cash reserves with care. Following costs incurred, including and relating to the successful work on TLP-101 and TLP-102 and procurement of long lead items for TLP-103, the Company now has reserves of more than US$2 million. A portion of this includes cash from SNPC's share of oil sales which the Company's subsidiary holds subject to an offset in favour of the Company in respect of costs which SNPC has not met.

The Company is considering the funding options available to it and has received several offers in this regard. The Company will consult to determine the most appropriate solution. TLP-103 will not spud until a financing solution is in place.

[honestmarty] 11/5/2018 20:35

Your name really suits you.

[letmepass] 11/5/2018 20:25

Positive news And every share will fly.. Beginner investors so clueless

[honestmarty] 11/5/2018 20:24

Happy enough with the end to the week.

Sets us up nicely for the newsflow on 101 and 102 over the next 2 weeks.

Details on the new assets, licence renewal or funding news could come at anytime.

MMs were short of stock this afternoon so all it would take is something positive to start the rebound.

[honestmarty] 10/5/2018 18:14

Positive news and this will fly.
The negativity amongst PI shareholders is the worst I've seen.
That fact alone encourages me to buy!

There are many positives still, to play for here.

101 and 102 flow rates, pump installation, new asset news.

Licence extension

Even fund raising down to 7.5p would be seen as positive given all the gloom.

Action stations from Monday!

[bad gateway] 10/5/2018 15:34

Not brave enough to call it but lovely little island reversal setting itself up here if the next newsflow is positive.

free stock charts from uk.advfn.com

[pistonbroke1] 08/5/2018 12:58

Not called for mate, rather shows you to be a rather ignorant individual.
Don't bother replying your on ignore.

[pistonbroke1] 08/5/2018 09:04

honestmarty - stop trying so hard!

[honestmarty] 08/5/2018 07:23

News could be later this week.
Clearing the seller will give the share a bounce.

[honestmarty] 05/5/2018 02:13

1 million sell.
Hopefully that is the end of the seller.
High chance of some positive news over the next few weeks.
The share price will bounce nicely.

[money4me] 04/5/2018 15:50

new assets...have they actually achieved anything with the assets they currently have. i wouldn't give them any more money until they actually deliver something

[honestmarty] 04/5/2018 13:58

Significant buying, price starting to react?


Any whispers on the new assets?

[honestmarty] 04/5/2018 13:41

Cannot buy 500 quids worth online

[honestmarty] 04/5/2018 13:39

Cannot buy online.

MM have lifted the bid, they need shares as sell off didn't happen.

[honestmarty] 04/5/2018 10:10

I agree, work production on the existing wells. If the pump produces oil we will see a lift.
And don't forget about the promised new assets.

Priced for dead, but still breathing.

[bad gateway] 04/5/2018 09:42

Could be the BB punters are wrong about a massive placing. Directors have just set their options at 20p for a start. Thats the first clue.
Quite possible that they'll stabilise production at 101 and 102 then given they're entitled to all the revenues to pay for SNCP's share of 103's drilling expenses they'll use that as collaterial for a loan of sorts same as NTOG did.
Not saying thats whats happening but someones buying the stock which normally means someones in the know.

[honestmarty] 04/5/2018 09:40

MM's bidding above mid.

Was the fall overdone?

There were positive s in yesterday's news. There was no grand sell off.

[honestmarty] 04/5/2018 09:33

Premium paid on small volume.
MM's have no stock

[honestmarty] 04/5/2018 09:26

Anyone else can't get quote to buy even modest amounts?
WTF didn't I buy earlier.

I think we will have run of positive news prior to any farm-in news.

[honestmarty] 04/5/2018 09:12

Can't buy online.
Next news likely to be positive

[money4me] 04/5/2018 08:07

yes. all great news for those that bought above 20p. they will need a gusher just to get a small return.